Britain’s three main political parties are today expected to unite against the News Corp bid for BSkyB.
Culture Secretary Jeremy Hunt has confirmed he will refer News Corp’s bid for BSkyB to the Competition Commission. It follows the withdrawal of undertakings by News Corp that would have led to the spin-off of Sky News. In an earlier statement, News Corp said it was willing to engage with the Competition Commission on its proposed […]
Culture Secretary Jeremy Hunt has written to the media regulator Ofcom over
News Corp’s proposed takeover of BSkyB. The move keeps alive the possibility
the matter could still be referred to the Competition Commission. [Read the Story…]
Media regulator Ofcom has clearly set out its role, powers and duties within News Corp’s proposed takeover of BSkyB. In a letter to John Whittingdale, chairman of the parliamentary committee on culture, media and sport Ofcom chief executive Ed Richards said the current undertakings made by News Corp in relation to the purchase were the […]
Ahead of the midday closure of the consultation into the undertakings given by News Corp in its proposed takeover of BSkyB, culture secretary Jeremy Hunt has said he will take as long as is needed to reach a decision.
A statement by Ofcom that it has “a duty to be satisfied on an ongoing basis that the holder of a broadcasting licence is ‘fit and proper’” has been interpreted in some media circles that the regulator may intervene in the proposed sale of BSkyB to News Corp.
The Secretary of State for Culture, Olympics, Media and Sport, Jeremy Hunt, has tentatively approved proposals put forward by News Corporation as part of its full acquisition of BSkyB. In undertakings published on March 3, 2011, News Corp offered to spin Sky News as a separate company.
Culture Secretary Jeremy Hunt has approved plans to spin-off Sky News as an independent company, should News Corp’s bid to purchase the remaining 61% in BSkyB be accepted. Under the plan, shares in the traded Sky News would be distributed among the existing shareholders in BSkyB, in line with their current shareholdings.
News Corp is close to an agreement with regulators that would address concerns over its purchase of BSkyB.
The Secretary of State for Culture, Olympics, Media and Sport Jeremy Hunt is to follow an Ofcom recommendation to refer News Corp’s acquisition of BSkyB to the Competition Commission, but only after the company has been given the opportunity to reduce the impact of the proposed takeover.